Market Trends of Latin America HMI Industry
This section covers the major market trends shaping the Latin America Human Machine Interface Market according to our research experts:
Automotive Industry to Drive the Market Growth
- Human Machine Interface (HMI) solutions for automobiles are features and components of car hardware and software that enable drivers and passengers to interact with the vehicle and the outside environment. Automotive HMI solutions improve driving experiences by allowing interaction with multi-touch dashboards, voice-enabled vehicle infotainment, control panels, built-in screens, and other features.
- The automotive industry has been increasingly adopting automation owing to various factors, such as the demand for more production and better efficiency. Moreover, companies have been adopting philosophies such as Lean manufacturing and six sigma, which increase the emphasis on efficiency.
- According to International Trade Association (ITA), Mexico is the sixth-largest global passenger vehicle manufacturer, producing approximately three million vehicles annually. Eighty-nine percent of vehicles produced in Mexico are exported, with 80 percent destined for the United States. Whereas, according to ANFAVEA, Brazil, car production in brazil accounted for 205.9 thousand units in May 2022, the highest monthly manufacturing volume since last November and following a 0.4 percent rise in the previous month.
- Companies have been relying on automation and increasing the number of robots to increase production. For instance, Toyota has been setting up new plants for as long as three years and has been one of the world's largest automakers by sales, indicating the use of machines for production. This rise in automation increased the demand for HMI systems.
Understand The Key Trends Shaping This Market
Download Sample
Automotive Segment to have a Significant Growth
- The electronics and automotive industries in Mexico are some of the industries utilizing and integrating automation through the introduction of robotics in the country. Additionally, increasing investments and rapidly rising sales of robots to be incorporated in diverse industries are driving the usage of human-machine interfaces (HMI), thereby propelling market growth over the forecast period.
- The Mexican government is focused on implementing industry 4.0 in the country, as it poses ample opportunity in the current market. Furthermore, the country comprises a skilled workforce and has strong economic relations with the United States, which creates new avenues for it to invest, which is expected to increase the utilization of the HMI system.
- Moreover, private companies are coming up with various investments which will further boost the growth of HMI in the country. For instance, in July 2022, Fanuc, a manufacturer of CNCs and robotics, opened a new robotic and automation headquarter in Aguascalientes, Mexico.
- As per IFR's World Robotic 2021 report, there are 3 million industrial robots operating in factories around the world, an increase of 10%. Moreover, annual shipments of industrial robots in Mexico are expected to reach 9,000 in 2021, which was 4,500 in 2018.
Get Analysis on Important Geographic Markets
Download Sample
